Another Stab at 'Public' Options

Zions to Register Securities
With SEC That Will Mimic
Stock Awards of Employees

By

Serena Ng and

David Reilly

Updated June 8, 2006 12:01 a.m. ET

Less than a year after the Securities and Exchange Commission shot down attempts by several companies, including computer-networking giant Cisco Systems Inc., to create "market" values for employee stock options, a bank is preparing to launch a new method of valuing options that it hopes will pass regulatory muster.

Zions Bancorp, of Salt Lake City, plans to register securities with the SEC as soon as today that will mimic the stock options it grants to employees. The bank hopes to sell those securities in a...